Greatest Damage on Credit report Disclosed

By Faye MergelPublished: Sunday, August 1st, 2010

Phony Identity has been identified to greatly affect an individual’s Credit report. With this, alert has been raised against impostors using other people’s Credit report following an enormous increase in Identity Theft cases in the U.S.

Statistic reveals that cases of Identity Theft from all over the country rose to 10 million in 2008 alone compared to thousands in the previous years and still expected to rise in the future as projected. They said that victims include individuals of all ages.

The Bureau of Justice Statistics reported that in 2006 about one member of the household is a victim of Identity Theft. This accounts for 3.6 million households which represents 3% of the household in the U.S. Javelin Research surveyed in the same year a much enormous figure which is more alarming. It recorded 8.4 million victims. Young adults are seen as the favorite of identity Thieves compared with any other age group. These are the individuals whose age ranges from 19 to 25.

To date, Arizona is the capital of Identity Theft compliment of Texas. It has beaten other States in the Federal Trade Commission’s list with the most number of identity-theft complaints. In 2004, it garnered 142.5 victims per 100,000 individual. Nevada sits second with 125.7 closely tailed by California particularly Napa and Madera with 122.1 victims per 100,000 people. North and South Dakota places last in the list.

Meanwhile, Claudia Bourne Farrell, spokesperson of FTC said that thieves of this kind blend into the crowd. This way, it is difficult to identify who they are. This happens especially in crowded areas. Foley who is a Co -Executive Director and founder of Identity Theft Resource Center said that “High-density population areas are attractive to thieves” and further cited a situation where he posted questions that “If you’re ordering many computers so you could use to rob people’s identities, will you live in some little town somewhere in Montana wherein people know who you are and will be nosy? Or will you live in one large population area where one can blend easily in the crowd?”

Other reports have it that Identity theft is the most notorious thing that may enter one’s Credit Report because apart from the personal damages it can do, it is very difficult to fix. Many victims spent lengthy time going back and forth from office to office to submit pertinent papers. Others claimed they spent bunch of dollars to hire lawyers for the correction.

In such circumstance, the public should be responsible enough to safe guard their Credit Report as there is no better way of shielding yourself from this unscrupulous people than to be vigilant experts hinted.